Not exact matches
Dilution: is the reduction
in the investor's ownership percentage
of a
share of stock caused by the
issuance of new dilutive securities.
The table above does not include (i) 5,952,917
shares of Class A common stock reserved for
issuance under our 2015 Incentive Award Plan (as described
in «Executive Compensation —
New Employment Agreements and Incentive Plans»), consisting
of (x) 2,689,486
shares of Class A common stock issuable upon exercise
of options to purchase
shares of Class A common stock granted on the date
of this prospectus to our directors and certain employees, including the named executive officers,
in connection with this offering as described
in «Executive Compensation — Director Compensation» and «Executive Compensation —
New Equity Awards,» and (y) 3,263,431 additional
shares of Class A common stock reserved for future
issuance and (ii) 24,269,792
shares of Class A common stock issuable to the Continuing SSE Equity Owners upon redemption or exchange
of their LLC Interests as described
in «Certain Relationships and Related Party Transactions — SSE Holdings LLC Agreement.»
The number
of shares of our Class A common stock outstanding after this offering as shown
in the tables above is based on the number
of shares outstanding as
of September 24, 2014, after giving effect to the Transactions and the Assumed Redemption, and excludes 5,952,917
shares of Class A common stock reserved for
issuance under our 2015 Incentive Award Plan (as described
in «Executive Compensation —
New Employment Agreements and Incentive Plans»), consisting
of (i) 2,689,486
shares of Class A common stock issuable upon the exercise
of options to purchase
shares of Class A common stock granted on the date
of this prospectus to our directors and certain employees, including the named executive officers,
in connection with this offering as described
in «Executive Compensation --
The number
of shares of our Class A common stock outstanding after this offering as shown
in the tables above is based on the number
of shares outstanding as
of September 24, 2014, after giving effect to the Transactions and the Assumed Redemption, and excludes
shares of Class A common stock reserved for
issuance under our 2015 Incentive Award Plan (as described
in «Executive Compensation —
New Employment Agreements and Incentive Plans»), consisting
of (i)
shares of Class A common stock issuable upon the exercise
of options to purchase
shares of Class A common stock granted on the date
of this prospectus to our directors and certain employees, including the named executive officers,
in connection with this offering as described
With the
issuance of new shares to Soon - Shiong, Ferro's stake
in Tribune Publishing is reduced to 14.4 percent.
But that's changed
in recent decades: Corporations have been big buyers
of their own stock, and these
share buybacks have roughly offset
new issuance.
In practice, however, the
issuance of new shares can destroy shareholder value.
Stock dilution is legal because,
in theory, the
issuance of new shares shouldn't affect actual shareholder value.
A less common case might be as follows:
In the case
of a large company, the
issuance of new shares can have a positive effect on liquidity.
To the extent trading requires the
issuance of new ETF
shares, that is considered to be the primary market for the ETF (which as you point out, results
in what would be the secondary market for the underlying securities).
Inclusion
in the S&P 500 carries certain liquidity requirements and the
issuance of new shares may provide a boost to liquidity enabling the company to be added to the S&P 500.
Of course, new share issuance only makes sense if it's priced at levels near / in excess of EIIB's own NAV / intrinsic valu
Of course,
new share issuance only makes sense if it's priced at levels near /
in excess
of EIIB's own NAV / intrinsic valu
of EIIB's own NAV / intrinsic value.
Rule 144A
issuance In recent years, growing
shares of new high - yield bonds have been issued under Rule 144A.
Global law firm Norton Rose Fulbright has advised Greencoat UK Wind PLC (Greencoat UKW), the leading listed renewable infrastructure fund,
in connection with a # 340 million equity offering which forms part
of Greencoat UKW's
new share issuance programme and the acquisitions
in 2017
of eight wind farms.
New client wins include Havard Tisdale and work highlights during the year include advising the management
in a buyout
of Excalibur Communications and advising the sellers
in the disposal
of the entire
share issuance of Rainclear to Alumasc.